Robotic Hogwash! Artificial Intelligence Will Not Take Over Wall Street

Robotic Hogwash! Artificial Intelligence Will Not Take Over Wall Street

Ten years ago, computer-driven traders pulled the plug after their algorithms ran amok, leading to billions in losses and the eventual closure of Goldman Sachs’s flagship quantitative fund. A decade on, artificial intelligence and machine learning are the buzzwords in automated investment. But for all the hype, applying AI to investment has three serious problems: it works too well, it is often impossible to understand, and it only…